Nasdaq 100 futures near circuit breaker with 6.5% drop
MG News | August 05, 2024 at 11:52 AM GMT+05:00
August 05, 2024 (MLN): The Nasdaq 100 futures were very close to triggering a circuit breaker. The limit-down level for the contract is at 17,265.25, or 6.9% drop from the closing level on Friday, as reported by Bloomberg.
Futures fell as much as 6.5%.
The last time such a circuit breaker was triggered was in March 2020 during the Covid selloff.
The market turmoil is boosting bets on an immediate, emergency, policy response from the Fed.
Traders are now pricing in a 60% chance of a 25-basis-point reduction within a week. Given the central bank announced it’s latest decision just days ago, that would be a real sign of concern.
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